JD.com Announces $5 Billion Share Buyback Over 36 Months, Stock Jumps 5%

Aug 27, 2024, 10:42 AM

Chinese e-commerce giant JD.com has announced a new share repurchase program, approving the buyback of up to $5 billion of its shares over the next 36 months, ending in August 2027. The decision comes as the company seeks to reward shareholders following a decline in its stock over the past three years. The announcement led to a 5% jump in JD.com's stock price. The repurchase program includes American Depositary Shares (ADSs) and will be conducted based on market conditions starting September 2024.